In the System of Stream Orders, the Smallest Unit in the Network

question 67

Multiple Choice

In the system of stream orders, the smallest unit in the network is at the ________.

• A) 1st order
• B) 2nd order
• C) 3rd order
• D) 4th order
• E) a variable number

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Definitions:

Shutting Down

The short-run decision by a firm to cease production due to market conditions, though it may resume operations in the future.

Variable Cost

Costs that vary in proportion to the level of production or business activity.

Total Revenue

The full amount of income generated by the sale of goods or services before any expenses are subtracted.

AVC Curve

The Average Variable Cost (AVC) Curve graphically represents how the cost per unit changes as the level of output is altered, typically showing a U-shaped curve due to economies and diseconomies of scale.